SONS ( $3.75-$5) Eps -3.50 Cap=$880mil reports huge third-quarter loss
WESTFORD, Mass., Oct 11 (Reuters)- Network equipment maker Sonus Networks (NasdaqNM:SONS - news) on Thursday reported a $498 million third-quarter net loss, or $2.81 per share, which includes a huge charge related to acquisitions and goodwill.
This compared to a loss of $12.4 million, or 9 cents a share, a year ago.
Excluding restructuring charges, amortization of goodwill and other special items, adjusted net loss for the period was $11.4 million, or 6 cents a share, compared with an adjusted net loss of $5.4 million, or 4 cents a share, a year ago.
Analysts surveyed by First Call estimated that the Westford, Massachusetts-based company's per-share loss would be in a range of 5 cents to 7 cents, with a consensus of 6 cents. Last month, Sonus warned it would post a third-quarter loss with sales more than 25 percent below expectations due to the deepening slump in the telecommunications market.
Revenues for the third quarter of fiscal 2001 were $40.3 million compared with $15.6 million in the year-ago period. |
